Fairshake Announces $78 Million Crypto Fundraising War Chest

Crypto leaders and Silicon Valley giants have boosted Fairshake's funding for the 2026 US midterm election cycle as America prepares to choose its next president.

According to CNBC, crypto super PAC Fairshake has raised $78 million from blockchain supporters and companies for medium-term lobbying in 2026.

The U.S. midterm elections, which take place two years into a president's term, will determine many congressional seats, potentially favoring the regulation of digital assets. Coinbase and Andreessen Horowitz are among those bankrolling pro-crypto candidates in Congress.

America's largest centralized crypto exchange, Coinbase, has pledged to donate $25 million. Previously, crypto.news reported that a16z crypto donated $23 million to Fairshake, according to managing partner Chris Dixon.

Crypto industry firms and blockchain-friendly companies have contributed a total of $170 million to Fairshake, a super PAC founded by over a dozen companies. Fairshake's numbers, along with other crypto-focused PACs, accounted for nearly 50% of corporate donations for the 2024 general election.

A16z, Coinbase, Jump Crypto and Ripple have donated the majority of Fairshake's $170 million crypto lobby war chest this cycle. Fairshake has spent about $135 million reaching out to lawmakers and state policymakers.

Long-term crypto lobbying commitments were announced hours before the final presidential vote between Republican Donald Trump and Democrat Kamala Harris. On prediction platforms like Polymarket, Trump had a higher probability of winning at 57.9% than Kamala at 42.3%. But national polls suggested a tight race between the rivals.

The presidential election results may be announced on November 5th. However, a lengthy vote count could lead to delays. Polymarket's presidential contract topped $3.1 billion as traders placed bets on injury time.

The largest presidential prediction market will unravel if the Associated Press, Fox and CNBC all declare a single winner. Otherwise, Polymarket's betting pool would remain open until it opens in January.